All three major U.S. stock market indices closed at a record high at the beginning of this week, indicating bullish market sentiment. According to JPMorgan's Dubravko Lakos-Bujas, omicron is not supposed to impact the growth outlook significantly, which should support the market rally. Furthermore, amid the pandemic and supply chain issues, holiday sales also rose 8.5% year-over-year, which is the highest growth in holiday sales in the past 17 years.

Although the weekly jobless claims remained unchanged at 205,000, they declined from the previous month. Moreover, an increase in consumer spending and lower hospitalization risks of omicron should support the stock market rally. Therefore, it could be wise to bet on stocks possessing solid growth attributes. Investors' interest in growth stocks is evidenced from the SPDR Portfolio S&P 500 Growth ETF's (SPYG) 32.9% gains over the past year.

S&P Global Inc. (SPGI), Synopsys, Inc. (SNPS), and Veeva Systems Inc. (VEEV) possess solid growth attributes. So, it could be wise to bet on these stocks now.

S&P Global Inc. (SPGI)

SPGI delivers data, research, credit ratings, benchmarks, and ESG solutions to governments, companies, and individuals. The company operates through four segments - S&P Global Ratings (Ratings); S&P Global Market Intelligence (Market Intelligence); S&P Global Platts (Platts); and S&P Dow Jones Indices (Indices). SPGI also offers analytics and data visualization systems to Wall Street's global banks, investment institutions, and the National Security community.

This month, SPGI launched the world's first suite of Carbon Neutral Hydrogen (CNH) assessments. These CNH assessments reflect the carbon-neutral value of hydrogen as it leaves the production facility at key hubs in Northwest Europe, the Middle East, Far East Asia, Australia, California and the US Gulf Coast.

SPGI's revenue increased 13.1% year-over-year to $2.09 billion for the third quarter ended September 30, 2021. The company's operating profit grew 14.7% from the year-ago value to $1.08 billion. Its net income rose 72.9% from the prior-year quarter to $861 million. Also, the company's EPS increased 75.5% year-over-year to $3.3.

SPGI's revenue is expected to increase 5.3% year-over-year to $8.65 billion in fiscal 2022. The company has an impressive earnings surprise history; it beat the consensus EPS in each of the trailing four quarters. Also, its EPS is expected to grow 16.8% in the current year. Moreover, its EPS and total assets increased at a CAGR of 19.9% and 14.6%, respectively, over the past three years. The stock has gained 49.4% over the past year.

SPGI's strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, which equates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.

Also, the stock has an A grade for Quality and a B grade for Growth. We've also graded SPGI for Stability, Sentiment, Momentum, and Value. Click here to access all of SPGI's ratings. SPGI is ranked #12 of 122 stocks in the Financial Services (Enterprise) industry.

Synopsys, Inc. (SNPS)

SNPS provides software products and services that design and test integrated circuits. The company offers Fusion Design Platform, Verification Continuum Platform, intellectual property (IP) solutions, Platform Architect solutions, and other services. It also offers electronics, financial services, automotive, medicine, energy, and industrial software tools and services.

This month, Juniper Networks, a secure and AI-driven network company, adopted the SNPS' OptoCompiler platform, including the OptSim and PrimeSim HSPICE simulation solutions. SNPS should help Juniper Networks accelerate the development of photonic-enabled chips for the next generation of optical communications.

SNPS' total revenue for the fiscal fourth quarter ended October 31, 2021, increased 12.4% year-over-year to $1.15 billion. The company's gross margin grew 14.6% from the year-ago value to $917.69 million. Its operating income came in at $190.29 million. Also, the company's net income rose 2.1% from the prior-year quarter to $201.14 million.

Analysts expect SNPS' revenue to increase 14.8% year-over-year to $4.83 billion in fiscal 2022. The company has an impressive earnings surprise history; it beat the consensus EPS estimates in each of the trailing four quarters. Its EPS is expected to increase 56.6% in the current quarter. SNPS' EPS and net income have increased at CAGRs of 19.5% and 20.5%, respectively, over the past three years. The stock has surged 53.3% over the past nine months.

It's no surprise that SNPS has an overall A rating, equating to a Strong Buy in our POWR Rating system. Also, the stock has an A grade for Quality and a B grade for Growth and Stability.

Click here to see the additional POWR Ratings for SNPS (Value, Sentiment, and Momentum). SNPS is ranked #2 of 52 stocks in the Technology - Hardware industry.

Veeva Systems Inc. (VEEV)

Incorporated in 2007, VEEV provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company's solutions include cloud software, data, and business consulting. VEEV's industry cloud solutions for the life sciences industry are grouped into two product areas: Veeva Commercial Cloud and Veeva Vault.

This month, PharmaEssentia, a biotechnology company, has adopted VEEV's data cloud to support the launch of BESREMi, a new therapy for polycythemia vera (PV), a rare blood cancer. With the data cloud, VEEV should support PharmaEssentia with multiple commercial analytics and operations workflows so the company can better educate key HCPs on its important new treatment option.

For the fiscal third quarter ended October 31, 2021, VEEV's total revenues increased 26.1% year-over-year to $476.11 million. The company's gross profit grew 26.2% from the year-ago value to $346.55 million. Its operating income rose 31% from the prior-year quarter to $132.71 million. Also, the company's net income increased 9.2% year-over-year to $105.87 million.

VEEV's revenue is expected to increase 25.9% year-over-year to $1.85 billion in fiscal 2022. The company has an impressive earnings surprise history; it beat the consensus EPS estimates in each of the trailing four quarters. The company's EPS is expected to increase 25.5% in the current year. In addition, its revenue and total assets increased at a CAGR of 29.3% and 34.1%, respectively, over the past three years. The stock has gained 1.6% over the past nine months.

VEEV's POWR Ratings reflect this promising outlook. The stock has an overall B rating, which equates to a Buy in our proprietary rating system. Also, the stock has an A grade for Quality and a B grade for Sentiment and Growth.

In addition to the POWR Rating grades I've just highlighted, one can see VEEV's ratings for Value, Stability, and Momentum here. The stock is ranked #23 of 88 stocks in the Medical – Services industry.

SPGI shares were trading at $475.37 per share on Wednesday afternoon, up $0.27 (+0.06%). Year-to-date, SPGI has gained 45.74%, versus a 29.46% rise in the benchmark S&P 500 index during the same period.

Priyanka is a passionate investment analyst and financial journalist. After earning a master's degree in economics, her interest in financial markets motivated her to begin her career in investment research.

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